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Jain Irrigation to acquire 80% stake in two US entities, stock rallies 9%

The stock surged 9% to Rs 108.80 on BSE, trading close to its 52-week high of Rs 109.25.

Jain irrigation
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SI Reporter Mumbai
Jain Irrigation Systems surged 9% to Rs 108.80 on BSE after the company announced the investment in United States’ (US) largest micro irrigation dealers – Agri-Vally Irrigation (AVI) & Irrigation Design and Construction, Inc. (IDC).

“The company through its multi generation wholly owned subsidiary in US agreed to acquire 80% stake in two US entities. The company has entered into an agreement to merge ownership of their businesses into a newly formed distribution company,” Jain Irrigation Systems said in a press release.

The new organisation is an unparalleled leader in design, construction, service and innovation Ag Technology. This

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